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Headquartered in Westminster, Colorado, Trimble Inc. (TRMB) is a pioneering technology company that delivers advanced solutions across various industries, including agriculture, construction, geospatial, and transportation. With a market cap of $13.20 billion, Trimble is known for its innovative use of GPS, laser, optical, and inertial technologies.
TRMB's shares have significantly underperformed the broader market over the past 52 weeks. TRMB has declined by 2.9% over this time frame, while the broader S&P 500 Index ($SPX) rallied 24.9%. In 2024, the stock is up 1.6% compared to SPX’s 16.2% gains on a YTD basis.
Narrowing the focus, TRMB’s underperformance is also evident compared to the Ark Space Exploration & Innovation ETF (ARKX). The exchange-traded fund has gained 6.1% over the past year.
On Aug. 6, TRMB reported its Q2 results. Its adjusted EPS of $0.62 exceeded the analysts' expectation of $0.57. The company’s revenue came in at $870.80 million, surpassing the Wall Street estimates of $860.80 billion. TRMB expects full-year EPS to be between $2.67 to $2.81 per share, with revenue to be between $3.59 billion to $3.67 billion. Shares of TRMB closed up more than 2% on the day the results were released.
For the current fiscal year, ending in December, analysts expect TRMB’S EPS to grow marginally to $2.22 on a diluted basis. The company’s earnings surprise history is impressive. It surpassed the consensus estimate in all the last four quarters.
Among the 12 analysts covering TRMB stock, the consensus rating is a “Moderate Buy,” with seven “Strong Buys,” one “Moderate Buy,” three “Holds,” and one “Strong Sell.”
On Aug. 7, the Piper Sandler analyst Clarke Jeffries asked to maintain “Buy” ratings on the stock with a price target of $73, implying an upside of 35.1%. The mean price target of $63.62 represents a 17.7% premium to TRMB’s current price levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
